Skip to main content

National Lender Unveils New Products for Correspondent Lenders

NationalMortgageProfessional.com
Aug 02, 2011

First Guaranty Mortgage Corporation (FGMC) has announced the introduction of its Correspondent’s Edge product line for correspondent lenders. The niche-focused product line will include manufactured housing loans and rehabilitation loans such as the 203k or Fannie Mae HomePath loan. FGMC is a national, full-service mortgage lending firm offering retail and wholesale mortgage solutions to clients of varying income and credit types. “Many of the correspondents we speak with have found themselves limited to fairly vanilla loans, limiting them to a fairly narrow range of potential borrowers,” said First Guaranty Mortgage Corporation (FGMC) Senior Vice President Andrew Peters. “Correspondent’s Edge should provide them with additional tools and offerings, and widen the market for many of the newer correspondents making the transition from third-party originator to correspondent lender.” FGMC is also responsible for the “Rebuild the Dream” initiative, which aims to provide incentive to homebuyers and Realtors alike to use rehabilitation loans to increase the value and appeal of real estate-owned (REO) properties which would often otherwise be marketed in a state of disrepair. “We believe that there is a need and a demand for non-traditional loans such as the 203k,” said Peters. “Many have backed away from non-traditional lending recently, but with cautious underwriting and an attention to detail, there is no reason to shun these products, which can also play a strong role in accelerating REO re-sales and even neighborhood stabilization.”
Published
Aug 02, 2011
PenFed CU Sees Record Annual Mortgage Lending Volume

PenFed Credit Union announced it's financial highlights from 2021 which includes record annual mortgage lending volume.

Industry News
Jan 21, 2022
Angel Oak Lending Platform Reveals Record-Setting 2021

Last year was a record-setting year for many companies in the mortgage lending space, especially for the Angel Oak lending platform that consists of Angel Oak Mortgage Solutions and Angel Oak Home Loans.

Non-QM
Jan 21, 2022
What Are The Biggest Deal-Breakers For Homebuyers?

The housing market is holding strong but that doesn't mean homebuyers don't have their fair share of deal-breakers when it comes to purchasing a home.

Analysis and Data
Jan 20, 2022
Popular Bank Names National Director Of Residential Lending

Popular Bank named Adam Dejak as its national director of residential lending for Popular Mortgage.

Industry News
Jan 20, 2022
Total Expert Appoints Gaydos As President

Former Talkdesk and SAP senior executive brings extensive cloud, go-to-market, sales, and operations experience.

Industry News
Jan 20, 2022
Sagent Appoints Thompson As Chief Product Officer

Founder of fintech managment consulting firm Consigliera will lead and expand product development.

Industry News
Jan 20, 2022